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Take the plunge?

post #1 of 2
Thread Starter 

Hi everyone,

 

My name is Najah and I'm going to be starting my second year of Health Sciences in September. I've been fiddling with cake decorating for a while now, and I think that I want to begin my own cake decorating business. I have a small enclosed space on my property that is large enough for a cake boutique and I've checked for any legal issues with opening a shop there - there are none. Anyways, I'm planning on being a student for the next 9 years (future radiologist) and I want to find a job where I can be my own boss and enjoy my work. As for school work, I balance that really well - I've dealt with having 3 part time jobs along with university and I've handled it alright so having a lot of work to do is something that I'm used to.

 

My main concerns are how slow businesses start, I'm wondering if any of you opened commercial spaces and if business took off well in the beginning? Did it plateau at one point? I want to be able to save money to pay off my school debts.

 

My cake skills were very mediocre as a beginner, but I have been practicing and practicing and donating my practice cakes to local charities and now I believe I am a good enough decorator to sell my cakes. My cakes are not perfect by any means, however I hope that I will grow with my business.

 

Does anyone think that it would be unwise to delve into the world of cake decorating? Or vice versa?

 

Any tips on saving money when starting a business?

 

Thank you all

post #2 of 2
The answer will depend on what your local market looks like, if you write a business plan and do some market research you will have a better idea what kind of profitability you are looking at. Check out the "Starting a Business" link in my signature below for more info.

The main concern will probably be budgeting your time. Running a successful business without help is basically the equivalent of two full-time jobs, and I'm not sure it's realistic to balance that with med school.
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